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Stock impact report

Australian pay packets squeezed as more employers take 'nuclear option' [Reuters]

Alcoa Corporation (AA) 
Last alcoa corporation earnings: 4/22 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
Company Research Source: Reuters
Australian pay packets squeezed as more employers take 'nuclear option' | Reuters 7 Min Read SYDNEY (Reuters) - In Australia, it’s known as the “nuclear option”. An employer applies to the court to rip up an expiring wages deal, puts workers back on their industry’s minimum pay, and then negotiates a new contract. The once-rare negotiating tactic is becoming more widespread, used by companies including BP ( BP.L ), Alcoa ( AA.N ) and Unilever ( ULVR.L ), to change work schedules and conditions, and in some cases, cut pay rates. A Reuters analysis of court disclosures shows there were almost 400 applications in 2017/18 to terminate expired enterprise bargaining agreements - contracts governing wages and conditions. That’s nearly four times the number of applications from four years earlier. Growth in the tactic coincides with a sustained period of record low wages growth in Australia, which is weighing on consumer spending and has become a battleground for the conservative govern Show less Read more
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